Chip Wilson arrives for the annual general meeting of Lululemon Athletica Inc. in Vancouver on June 11.

Photograph by: JONATHAN HAYWARD
, THE CANADIAN PRESS

Loose lips sink ships — and stock prices.

Lululemon founder Chip Wilson found that out the hard way, after a controversial comment alienated many of the women who had made him a very rich man by purchasing his expensive yoga togs.

No need to feel sorry for the Vancouver-based Wilson — Forbes magazine says he’s still worth $1.8 billion US — but his poor choice of words started a chain of events that has reduced his worth by some $1.7 billion over the past year.

That’s what can happen when you personally own 40 million shares of stock.

Asked by a Bloomberg reporter last year about the problem with pilling on his pricey pants, Wilson blurted: “Frankly, some women’s bodies just actually don’t work for (wearing Lululemon pants) … it’s really about the rubbing through the thighs, how much pressure is there over a period of time, how much they use it.”

That rationale — from a presumably new-age, yoga-loving man — was seen as blaming women for not having perfect bodies, and irate consumers quickly learned that many different firms produce yoga wear without the Lululemon premium price.

Wilson’s verbal faux pas forced him out of his executive role with Lululemon, as he publicly fought with the company’s board, and Lululemon Athletica stock traded Tuesday at just $40 a share, less than half its value a year ago.

Because of his massive stock holdings, Wilson can make or lose immense amounts of money in a very short time.

With an earnings report last week not meeting expectations, Lululemon shares dropped 16 per cent, and Wilson personally lost more than $280 million in a single day.

The stock price has rebounded a bit since, allowing Wilson to recoup $100 million of that loss.

Lululemon shares have ranged in price from a high of $77.75 to a low of $36.26 in the past year.

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